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Risk Assets

USD Rallies on Thursday

The US dollar has started the first proper trading day of 2020 in the green with price recovering following a drift lower over fallow New Year’s Day trading which saw very light volumes.

Data sets released so far this week have done little to help the dollar. On Monday, the Chicago PMI was better than expected. However, the reading remained below the 50 level.

On Tuesday, CB consumer confidence came in weaker than expected. Traders now wait for the ISM manufacturing reading tomorrow along with the FOMC meeting minutes. USD index trades 96.28 last.

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Euro Falls on Manufacturing Weakness

EURUSD has been lower today, weighed on by a resurgent US dollar as well as a slew of disappointing data readings. German and eurozone manufacturing PMIs releases this morning both remained in contractionary territory.

While the eurozone reading was slightly better than expected, at just 46.3, the sec...

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